Company court to investigate Van der Moolen bankruptcy

The company court in Amsterdam has decided to launch an investigation into the bankruptcy of stock broker Van de Moolen in 2009, saying there are sufficient grounds to doubt whether the correct strategy was followed.


The investigation into potential maladministration had been called for by the investors organisation VEB and major shareholder ASR Nederland.
The 117-year-old firm filed for bankruptcy on September 10, 2009, blaming big losses in the US, unsuccessful new initiatives like Online Trader, decreasing revenues in connection with the financial crisis and a cost pattern that structurally exceeded benefits.
The official receivers also told the company court an investigation would be useful.
‘This is an important first step on the road to compensating shareholders who lost out,’ VEB director Jan Maarten Slagter said.

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